Originally Posted by
number_6
You can get a better exchange rate by 3-5% if you shop around at money changers (which is every 2nd shop in Bali, or so it seems). Its kind of a legal black market scheme
Most are honest, but some will try to short change you (mix in 10K bills with 100K bills) or even pass counterfeit. They are pretty savvy on USD counterfeit and wrinkled bills could get you 10% less. ATM cards are fairly hassle-free at airport but I've run into "out of cash" there, otherwise on street often takes 3 or 4 tries to find a working ATM.
How can they get away with mixing 10k bills in 100k bills? They're different colors!
The reputable changers like Central Kuta Bali, spread for major currencies is around 1.4-1.8%, at the airport, it's 4+%. While it's not the worst I've seen in the world, you want to change absolute minimum at the airport.
In Kuta, I've seen small changers displaying better rates than spot rate, how is it possible? Are they all scammers?
How much do local Indonesian banks typically charge when we use foreign debit cards?